Sec. 2. Determination of taxable wages and self-employment income above contribution and benefit base after 2013
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Section 3121 of the Internal Revenue Code of 1986 is amended— in subsection (a)(1), by inserting the applicable percentage (determined under subsection (c)(1)) of before that part of the remuneration ; and in subsection (c), by striking
(c)and inserting the following: Included and excluded service.— For purposes of this chapter, if For purposes of subsection (a)(1), the applicable percentage for a calendar year shall be equal to— for 2014, 80 percent; for 2015 through 2017, the applicable percentage under this paragraph for the previous year, decreased by 20 percentage points; and for 2018 and each year thereafter, 0 percent. For purposes of this chapter, if . Section 209 of the Social Security Act ( 42 U.S.C. 409 ) is amended— in subsection (a)(1)(I)— by inserting and before 2014 after 1974 ; and by inserting and after the semicolon; in subsection (a)(1), by adding at the end the following new subparagraph: The applicable percentage (determined under subsection (l)) of that part of remuneration which, after remuneration (other than remuneration referred to in the succeeding subsections of this section) equal to the contribution and benefit base (determined under section 230) with respect to employment has been paid to an individual during any calendar year after 2013 with respect to which such contribution and benefit base is effective, is paid to such individual during such calendar year; ; and by adding at the end the following new subsection: For purposes of subsection (a)(1)(J), the applicable percentage for a calendar year shall be equal to— for 2014, 80 percent; for 2015 through 2017, the applicable percentage under this subsection for the previous year, decreased by 20 percentage points; and for 2018 and each year thereafter, 0 percent. . The amendments made by this subsection shall apply with respect to remuneration paid in calendar years after 2013. Section 1402 of the Internal Revenue Code of 1986 is amended— in subsection (b)(1), by striking that part of the net earnings and all that follows through minus and inserting the following: an amount equal to the applicable percentage (as determined under subsection (d)(2)) of that part of the net earnings from self-employment which is in excess of the difference (not to be less than zero) between
(i)an amount equal to the contribution and benefit base (as determined under section 230 of the Social Security Act) which is effective for the calendar year in which such taxable year begins, and ; and in subsection (d)— by striking
(d)and inserting the following: Employee and wages.— The term The term ; and by adding at the end the following: For purposes of subsection (b)(1), the applicable percentage for a taxable year beginning in any calendar year referred to in such paragraph shall be equal to— for 2014, 80 percent; for 2015 through 2017, the applicable percentage under this paragraph for the previous year, decreased by 20 percentage points; and for 2018 and each year thereafter, 0 percent. . Section 211 of the Social Security Act ( 42 U.S.C. 411 ) is amended— in subsection (b)— in paragraph (1)(I)— by striking or after the semicolon; and by inserting and before 2014 after 1974 ; by redesignating paragraph
(2)as paragraph (3); and by inserting after paragraph
(1)the following: For any taxable year beginning in any calendar year after 2013, an amount equal to the applicable percentage (as determined under subsection (l)) of that part of net earnings from self-employment which is in excess of the difference (not to be less than zero) between— an amount equal to the contribution and benefit base (as determined under section 230) that is effective for such calendar year, and the amount of the wages paid to such individual during such taxable year; or ; and by adding at the end the following: For purposes of subsection (b)(2), the applicable percentage for a taxable year beginning in any calendar year referred to in such paragraph shall be equal to— for 2014, 80 percent; for 2015 through 2017, the applicable percentage under this subsection for the previous year, decreased by 20 percentage points; and for 2018 and each year thereafter, 0 percent. . The amendments made by this subsection shall apply with respect to taxable years beginning during or after calendar year 2014.
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Sec. 2
Determination of taxable wages and self-employment income above contribution and benefit base after 2013
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